beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

INCOME STATEMENTS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Revenue	$ 20,379	$ 23,201
Cost of revenue	7,207	8,273
Gross margin	13,172	14,928
Research and development	2,962	3,065
Sales and marketing	3,333	3,728
General and administrative	1,084	1,151
Impairment, integration, and restructuring	0	1,140
Operating income	5,793	5,844
Other income (expense), net	(280)	52
Income before income taxes	5,513	5,896
Provision for income taxes	893	1,356
Net income	$ 4,620	$ 4,540
Earnings per share:
Basic	$ 0.58	$ 0.55
Diluted	$ 0.57	$ 0.54
Weighted average shares outstanding:
Basic	7,996	8,249
Diluted	8,066	8,351
Cash dividends declared per common share	$ 0.36	$ 0.31

CASH FLOWS STATEMENTS - USD ($) $ in Millions	3 Months Ended
CASH FLOWS STATEMENTS - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Operations
Net income	$ 4,620	$ 4,540
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other	1,461	1,428
Stock-based compensation expense	674	646
Net recognized losses on investments and derivatives	101	55
Excess tax benefits from stock-based compensation	(282)	(502)
Deferred income taxes	73	301
Deferral of unearned revenue	10,423	8,022
Recognition of unearned revenue	(11,355)	(10,643)
Changes in operating assets and liabilities:
Accounts receivable	6,376	6,627
Inventories	(937)	(483)
Other current assets	(280)	(280)
Other long-term assets	(5)	279
Accounts payable	(135)	(659)
Other current liabilities	(2,024)	(1,166)
Other long-term liabilities	(116)	189
Net cash from operations	8,594	8,354
Financing
Proceeds from issuance of short-term debt, maturities of 90 days or less, net	4,890	2,999
Proceeds from issuance of debt	121	0
Repayments of debt	(1,750)	(1,500)
Common stock issued	219	216
Common stock repurchased	(4,757)	(2,888)
Common stock cash dividends paid	(2,475)	(2,307)
Excess tax benefits from stock-based compensation	282	502
Other	(178)	0
Net cash used in financing	(3,648)	(2,978)
Investing
Additions to property and equipment	(1,356)	(1,282)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(390)	(141)
Purchases of investments	(37,570)	(24,085)
Maturities of investments	5,686	1,693
Sales of investments	28,502	16,445
Securities lending payable	62	(367)
Net cash used in investing	(5,066)	(7,737)
Effect of exchange rates on cash and cash equivalents	(44)	(6)
Net change in cash and cash equivalents	(164)	(2,367)
Cash and cash equivalents, beginning of period	5,595	8,669
Cash and cash equivalents, end of period	$ 5,431	$ 6,302

BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2015	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 5,431	$ 5,595
Short-term investments (including securities loaned of $129 and $75)	93,924	90,931
Total cash, cash equivalents, and short-term investments	99,355	96,526
Accounts receivable, net of allowance for doubtful accounts of $250 and $335	11,444	17,908
Inventories	3,816	2,902
Deferred income taxes	1,447	1,915
Other	5,594	5,461
Total current assets	121,656	124,712
Property and equipment, net of accumulated depreciation of $18,009 and $17,606	15,046	14,731
Equity and other investments	11,438	12,053
Goodwill	17,142	16,939
Intangible assets, net	4,745	4,835
Other long-term assets	2,869	2,953
Total assets	172,896	176,223
Current liabilities:
Accounts payable	6,630	6,591
Short-term debt	9,998	4,985
Current portion of long-term debt	750	2,499
Accrued compensation	3,450	5,096
Income taxes	607	606
Short-term unearned revenue	21,603	23,223
Securities lending payable	154	92
Other	6,207	6,766
Total current liabilities	49,399	49,858
Long-term debt	27,819	27,808
Long-term unearned revenue	2,784	2,095
Deferred income taxes	2,169	2,835
Other long-term liabilities	13,280	13,544
Total liabilities	$ 95,451	$ 96,140
Commitments and contingencies
Stockholders' equity:
Common stock and paid-in capital-shares authorized 24,000; outstanding 7,986 and 8,027	$ 68,093	$ 68,465
Retained earnings	7,614	9,096
Accumulated other comprehensive income	1,738	2,522
Total stockholders' equity	77,445	80,083
Total liabilities and stockholders' equity	$ 172,896	$ 176,223